The lastest market update on real estate activity in the greater Cincinnati townships reflects an increase in median list prices for homes and condos.

5 of the 6 townships have increased median list prices for single family homes and 2 of the townships are experiencing higher median list prices for condos. The lower number of homes/condos hitting the market coupled with – winter weather- is adding to a slightly slower start in the local real estate market. However compared to last year’s snow and cold- the numbers don’t look quite so bad.

The Fed continues to hint at interest rate hikes mid year but until then mortgage interest rates remain low with lots of programs to assist buyers with owning a home. As rental prices escalate, it’s may be time to sit down with a professional to discuss what makes more money sense- renting vs. owning.

And if you’re in the market make sure to obtain an up-to-date market review from your Realtor® prior to making an offer. Grossly under bidding or over bidding in a panic usually comes back to haunt buyers later on.

Each neighborhood and complex within each zip code has unique pricing characteristics-make sure you look at not only the average/median list prices but also the absorption rate and the prices of recently sold properties.

This entry was posted on Friday, February 20th, 2015 at 8:11 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed.
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